Consumer retention is the key success factor for any retailer in current competitive market. With a view to comprehend the competitive market scenario , the most upcoming suburb after the launch of many new retail outlets and malls, an effort was made to ascertain and analyze customer views and preferences for the same through process of Brand Recall. Also, a detailed study was made to understand the performance pattern of major competitors of Pantaloon shop.
In doing so, it was possible to assess the competition in the market, hence enabling us to position ourselves more effectively and strategize on a long term basis. During the course of this project, I was also fortunate enough to be able to study the promotional campaigns carried out in the store.
This report contains the findings arrived after detailed analysis of the data received through observations made at the competitor’s stores and personal interviews conducted with the customers at various department stores. Though not professionally equipped to suggest strategies to the pioneer of organized retailing in India, a sincere effort has been made to give some humble Recommendations for the organization at the end of the report which would benefit the firm in the long run.
Objectives of the Study
To determine a competitive analysis based on the customer perception.
Finding what the customer actually looks for in a store especially market.
Study of current consumer tastes & attitudes towards a store.
Finding for completely satisfying store from pantaloon to consumers.
The scope of project was limited to find out measure competitors market share and consumer behavior in selected region and understand various factors affecting the customer choice while shopping.
Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer marker. Headquartered in Mumbai (Bombay), the company operates over 5 million square feet of retail space, has over 350 stores across 40 cities in India and employs over 18,000 people. The company’s leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, aLL, Top 10, mBazaar and Star and Sitara. The company also operates an online portal, futurebazaar.com.
Maximum number of respondent like going to Sitabuldi for shopping because of number of store over there, it’s well connected and also they find Sitabuldi as good place to relax and hangout.
From analysis we find that a store with variety of brand as well as new fashion is preferred the most by consumer since he/she can compare the brand quality.
It has been found that most of the people in Nagpur like going to Pantaloon followed by Apana bazaar.
Most of the respondent prefered going to a store twice in a month.
Most of the respondent’s prefered to shop in pantaloon because of offers and discount.
Most of the respondents are expect variety and quality from store merchandise.
It is found that most of the respondents are spending there money on shopping inbetween Rs.1001-3000 followed by less than Rs.1000/month.
It is found that most of the respondents made preplan before shopping.
It is found that most of the respondents preferred shopping in the peak hrs that is 5pm – 9pm.
Most of the respondent’s preferred for shopping in the weekends mostly in the Saturdays and Sundays.
It is found that majority of customers are coming for shopping twice in a week or more. It means shopping is a usual habit of a customer.
It is very clear from above analysis that a store with book store is preferred the most by consumer since he/she can spend more time in such store.
Most of the respondents were found that they preferred to shop with friend.
From analysis we find that most of the customer preferred to shop for own.
As we know in the present scenario there is a cutthroat competition in the retail market. The only way to survive in the market is to attract the customers more and more and to provide the best services available in the market. As it is discussed in this project about all the factors that are responsible for a positive attitude of a consumer to move to a particular shopping mall or a particular department store.
New competitors are entering in to the Indian market. Competitors such as Shoppers stop, Piramyd, Westside are trying to create new ideas and implementation of them in order to attract the customer’s attention. So consumer behavior and consumer’s reaction is an important factor, which must be taken into consideration by every retailer. Factors such as service, ambience, availability of merchandising, variety of merchandising, latest trends and fashion are the main factors which directs a customer to choose a particular department store for his/her shopping. In this research it has been found that even if one factor is missing in a particular store then the customer reacts very strongly. So it’s a must for every retailer to take care of every factor delicately to retain their loyal customers and attract new customers.